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Sale at 201 East 77th Street #19A

Started by nicesmile
almost 8 years ago
Posts: 90
Member since: May 2016
Discussion about 201 East 77th Street #19A
why is the maintenance here so high? is the building poorly run from a financial standpoint?
Response by 300_mercer
almost 8 years ago
Posts: 10570
Member since: Feb 2007

Why do you think the maintenance is high? Include 50% of the terrace space in your maintenance per sq ft. Typical maintenance is $2-$2.5 per sq f for a doorman building in a good area. Typically up to 50% goes towards taxes in a doorman building.

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Response by ximon
almost 8 years ago
Posts: 1196
Member since: Aug 2012

According to this article, coop bought out the land lease about 15 years ago. The higher maintenance may reflect amortization of the land purchase price in the form of acquisition financing.

https://www.halstead.com/about-us/recent-press/article/new-york-post-no-mans-land/158

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